The main ways to withdraw cash from SoFi

SoFi checking accounts let you withdraw money through ATMs, transfers to other accounts, and debit card purchases. You don't visit a physical SoFi branch because SoFi is an online bank — it has no branches to walk into. Instead, you use ATMs that SoFi partners with, move money electronically to another bank account you own, or straightforward spend the money with your debit card.

The fastest way depends on what you need. If you need cash right now, an ATM is quickest. If you're paying a bill or sending money to someone else, a transfer or debit card works. If you need a large amount of cash, calling SoFi first can help you avoid ATM withdrawal limits.

Key Takeaways

  • SoFi offers fee-free ATM withdrawals at a large network of ATMs nationwide, and you can find them through the SoFi mobile app.
  • You can transfer money from your SoFi checking account to another bank account you own, usually within one to three business days.
  • Using your SoFi debit card to make purchases or get cash back at stores counts as a withdrawal and happens when ready.
  • SoFi checking accounts have no monthly fees and no minimum balance requirements, so you won't lose money to account charges.

Using ATMs to withdraw cash

SoFi partners with a large ATM network, which means you can withdraw cash at thousands of ATMs without paying a fee. The exact network changes, but it typically includes ATMs at major retailers, convenience stores, and independent ATM operators. You can find which ATMs near you are in the SoFi network by opening the SoFi mobile app, going to the ATM locator tool, and entering your location.

To withdraw cash at an ATM, insert your SoFi debit card, enter your PIN, select "Withdrawal," choose your amount, and take your cash and receipt. Most ATMs let you withdraw between $300 and $500 per transaction, though some allow more. If you need more than the ATM limit in a single day, you can make multiple withdrawals or contact SoFi to ask about raising your daily limit.

If you use an ATM that is not in the SoFi network, SoFi will charge you a fee for that withdrawal. You can avoid this by sticking to the partner network, which is why checking the app locator before you go is worth the few seconds it takes.

Transferring money to another bank account

You can move money from your SoFi checking account to another bank account you own — at the same bank or a different one. This is called an external transfer. You do this through the SoFi mobile app or website by selecting "Transfer," choosing the destination account, entering the amount, and confirming.

The first time you transfer to a new account, SoFi verifies that you own it. This usually takes one to two business days. After that, future transfers to the same account are faster. Most transfers complete within one to three business days, though some take longer depending on the other bank's processing speed.

Transfers are useful when you need money in a different account but don't need cash when ready. They're also safer than carrying large amounts of cash. There is no fee for transfers from SoFi to other accounts.

Getting cash back at stores with your debit card

When you buy something at a store, gas station, or restaurant, you can ask for cash back. The cashier will add the amount you want to your purchase total, you'll pay with your SoFi debit card, and they'll give you the cash. This counts as a withdrawal from your account and happens when ready.

Cash back is convenient because you get money while you're already shopping, and there's no fee. The amount you can get back depends on the store — some allow up to $100, others allow more. If you're not sure, ask the cashier what their limit is before you check out.

What to do if you need a large withdrawal

If you need to withdraw a very large amount of cash — say, several thousand dollars — ATM daily limits might get in your way. In this case, contact SoFi through the mobile app or by phone before you try to withdraw. SoFi can temporarily raise your daily ATM limit or arrange for you to withdraw the cash in a different way.

Having a plan ahead of time prevents you from getting to an ATM and finding you can't take out as much as you need. SoFi customer service can usually handle this request the same day you call.

Understanding daily withdrawal limits

SoFi sets a daily limit on how much you can withdraw from ATMs in a single day. This limit protects your account from fraud — if someone steals your card, they can't drain your entire account in one visit to an ATM. The exact limit depends on your account history and SoFi's current policies, but it's typically in the range of $1,000 to $2,000 per day.

This limit applies only to ATM withdrawals. Transfers, debit card purchases, and cash back at stores do not count toward this limit. If you hit your daily ATM limit, you can still spend money with your debit card or transfer it elsewhere — you just can't withdraw more cash from an ATM that day.

Frequently Asked Questions

Can I withdraw money from a SoFi branch in person?

SoFi has no physical branches. It is an online-only bank. You withdraw money through ATMs, transfers, debit card purchases, or cash back at stores. If you need to speak with someone, you can call SoFi customer service or use the app's chat feature.

Will I be charged a fee if I use an out-of-network ATM?

Yes. SoFi charges a fee for withdrawals at ATMs outside its partner network. The fee amount varies but is typically a few dollars. You can avoid this by using the ATM locator in the SoFi app to find partner ATMs near you.

How long does it take to transfer money from SoFi to another bank?

Most transfers take one to three business days. The first transfer to a new account may take longer because SoFi verifies you own it. Weekends and holidays can add time. You can check the status of a transfer in the SoFi app.

What's the maximum I can withdraw from an ATM in one day?

SoFi's daily ATM withdrawal limit is typically between $1,000 and $2,000, though it varies by account. If you need to withdraw more, contact SoFi to ask about raising your limit temporarily.

Can I get cash back at any store?

Most stores, gas stations, and restaurants offer cash back when you use a debit card. The amount available varies by store. There is no fee from SoFi for cash back — you only pay for the items you buy.